A surge in spiritual tourism has resulted in a retail boom in holy towns spanning areas like as fashion and clothing, food and drinks, hypermarkets, homeware and department stores, and consumer electronics, according to a CBRE South Asia research.
The report identifies Amritsar, Ajmer, Varanasi, Katra, Somnath, Shirdi, Ayodhya, Puri, Tirupati, Mathura, Dwarka, Bodh Gaya, Guruvayur, and Madurai as key cities witnessing this retail boom. Retail brands are strategically adapting their offerings in both established mall clusters and high-street locations to cater to the growing tourist population.
Retail brands are expanding in mall clusters as well as on high streets.
Furthermore, local governments and companies collaborate to include local practices in the designs and offers of stores, restaurants and hotels.
Improved infrastructure, such as roads, airports and public transit, as well as lodging alternatives such as hotels, guesthouses, and spa centres, are all important components in tourism.
“Government initiatives to promote tourism and improve connectivity between pilgrimage sites are further boosting this growth. The rise of online retail platforms offering easy access to faith-based products and services is also a key factor,” said Ayushman Magazine, chairman and CEO – India, South-East Asia, Middle East & Africa, CBRE.
Restaurants, souvenir stores, and other enterprises have driven up demand for retail space.
